Latest financial news.
Cometa falls from the sky, 05/18/04
Cometa Networks plans to announce Wednesday that it will shut down, after its investors and board of directors decided to pull the plug on the fledgling Wi-Fi hot spot service provider, a spokeswoman …
https://www.nwfusion.com/net.worker/news/2004/0518cometfalls.html?nl
HP Q2 revenue up on strong software sales, 05/18/04
Spurred by strong sales in its personal systems and software groups, HP on Tuesday reported revenue of $20.1 billion and net earnings of $884 million for the second quarter of its fiscal 2004 year, which …
https://www.nwfusion.com/news/2004/0518hpq2re.html?nl
Hammerhead, CoSine ally with Fujitsu, 05/18/04
Fujitsu is broadening a marketing alliance designed to transition carriers from legacy to new services and infrastructures.
https://www.nwfusion.com/edge/news/2004/0518fujitsu.html?nl
Sun chooses head for x86 division, 05/18/04
One month after a major executive shake up at Sun, the dust appears to be settling a bit. The company has now appointed former Chief Technology Officer of Software John Fowler as executive vice …
https://www.nwfusion.com/news/2004/0518sunchoos.html?nl
Lucent settles with SEC, is hit with $25 million fine, 05/18/04
Federal regulators charged Lucent on Monday with conducting an accounting fraud of over $1.1 billion, amid allegations that employees falsified documents, cut secret deals with customers …
https://www.nwfusion.com/edge/news/2004/0518lucensettl.html?nl
MCI cuts 7,500 more jobs, 05/17/04
As its revenue continues to slip, MCI is set to lay off another 7,500 employees by next month, a purge that would bring the company’s total job cuts to 34,500 – almost half the workforce – in just less than two years.
https://www.nwfusion.com/news/2004/0517mci.html?nl
Opinion: MCI’s marching orders, 05/17/04
When WorldCom went into Chapter 11, image tarnished with accounting issues, it was a milestone in the telecom industry, a kind of official ending for the bubble period. Now MCI has been reborn, and its re- …
https://www.nwfusion.com/columnists/2004/0517nolle.html?nl
Oracle cuts PeopleSoft offer to $7.7 billion, 05/14/04
Oracle has reduced its offer to acquire PeopleSoft to $21 per share, or approximately $7.7 billion, in order to bring the offer in line with the reduced value of PeopleSoft’s shares, Oracle said Friday.
https://www.nwfusion.com/news/2004/0514oraclcuts.html?nl
Grand jury subpoenas Nortel documents, 05/14/04
A federal grand jury in Texas has issued a subpoena for documents, including financial statements and accounting records, from Nortel, the company announced Friday.
https://www.nwfusion.com/edge/news/2004/0514grandjury.html?nl
Intel’s Fister named CEO at Cadence Design Systems, 05/14/04
Mike Fister, formerly head of Intel’s server processor group, left the company this week to become president and CEO of Cadence Design Systems, Cadence said Wednesday.
https://www.nwfusion.com/news/2004/0514intelfister.html?nl
SBC president resigns, 05/14/04
SBC President William Daley resigned this week, shortly after SBC named a new COO.
https://www.nwfusion.com/edge/news/2004/0514sbcprez.html?nl
HP buys two service management firms, 05/13/04
Continuing its acquisition spree, HP this week announced it is buying two companies that specialize in IT best practices.
https://www.nwfusion.com/news/2004/0513hpbuy.html?nl
Dell Q1 revenue, net income up sharply once again, 05/13/04
Dell’s first-quarter revenue and net income soared on strong sales of high-margin products such as servers and notebooks, the company said Thursday.
